A Beginner’s Guide to Spend Analysis from Corcentric
Organizations with a deep understanding of their spend have an edge when it comes to strategic sourcing — and savings. Our Spend Analysis will help you do it right.
Building a robust spend analysis capability can serve as the foundation for strong opportunity assessments, but there are two sides to putting all that spend data information to work. Just as important as the up-front analytics deep dive is the back-end application of that data into better spend profiles.
That’s especially important when it comes to indirect spend, which is often under the radar.
A Beginner’s Guide to Spend Analysis offers up a range of insights and best practices from Corcentric’s procurement and sourcing industry experts. Our guide will take you step-by-step through what every organization needs to do in order to establish a fluency in spend analytics and apply that knowledge to optimize sourcing, purchasing, supplier management and more.
- Exploring the front end / back end of spend analytics and detailing why that data knowledge needs to have complete follow-through to be valuable.
- The components and mechanics of spend analysis, such as what parameters to include, what makes effective data cleansing, why spend levels matter, and other areas.
- What can go wrong in spend analysis so you can be better prepared to avoid common and not-so-common mistakes to produce the most effective, practical spend data output.